Liverpool: Meis visits as loan debate rages on

source: StadiumDB.com

Liverpool: Meis visits as loan debate rages on Architect Dan Meis paid a visit to Liverpool this week, one of many in upcoming months. His design work is progressing while the city seems divided by approved loan of £280 for the stadium.

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Already by late 2017 it became clear that the proposed £300 million for new Bramley-Moore Dock stadium would be insufficient. At that point it wasn't certain by how much but this is where we at StadiumDB left you.

So, if you haven't been updated recently, the price for new Everton stadium is estimated to be much closer to £500 million, even if not necessarily reaching that amount. During recent AGM shareholders were informed that proposed loan of £280 from the city of Liverpool would cover “two thirds” of the project, which would put it at roughly £420 million.

But whether it's £420 or £500 million ($600 – 710 million) remains to be seen as final design and construction contract are yet to arrive, so is the final cost estimate.

The public loan itself drew far greater interest. After all, the city has much greater needs than lending money to a football club benefitting from record-breaking TV deal and seeing greater revenue than in previous years. If you put it that way... sure, makes sense to question it.

However, mayor Joe Anderson and the city council assure it's not the case. First of all, the city isn't lending its own funds, rather using the national Public Works Loan Board. Everton will be bound to repay it over 25 years with interest. This means Liverpool is acting more like a bank, counting on £6-7 million annually (£160-172m) in interest alone.

When put like that it sounds like a brilliant scheme for taxpayers. Not only getting a new stadium and Goodison Park legacy scheme, but also extra £160+ million for other projects. However, reality isn't as beautiful. After all, such scenario will only exist if Everton remain a successful club, able to foot the bill. And while a new stadium should help in doing exactly that, there's always the risk of relegation or ownership issues in the future. Small one, surely, but it exists.

Debate and design work go on

While Liverpool residents argue about the funding scheme, American architect Dan Meis continues his work. Just two days ago he visited Merseyside for updates on the design. It's understood he was also briefed on first results of supporter survey, in which Everton ask their supporters for feedback about the proposed stadium.

In upcoming months Meis is expected to land in Liverpool every two weeks or so, as the Bramley-Moor stadium continues to take shape.

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